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Supply Zone

BirlaMoney: Overcame Supply zone ( W pattern trading)A parallel price action zone between 32 to 40.. Price rarely moved out of this zone & any move beyond the zone rejected sharply. There are multiple attempts to cross the 40 but every time rejected violently. Once price fell out of 32 support zone .. It corrected sharply following the bullish W pattern. Now there is another attempt & price is above this zone.. Good volumes are appearing in the chart which indicates this time it could break the barrier, Target would be 52 rs.
NSE:BIRLAMONEYLong
by finalyticsbreweries
ShortPositional Short Entry: 32 (aggressive) : Wait for breakout of neckline and wait for successful retest of neckline (Conservative) Target 1: 30.20 (aligned with Fib 0.382 retracment) Target 2: 25 (not aligned with Fib 0.618 retracment, Fib 0.618 retracment is 23.25) Risky trader can target for 23.35. SL 37 (on closing basis) Disclaimer: The recommendations are based on technical analysis and subject to market conditions. Please trade at your own risks. The author is not responsible for any loss.
TShort
by pav_technicals
1